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The twitter source has posted several tweets about this thats interesting; here is a txt summary:

"Okay, what I'm hearing from sources I trust is it's a total closure due to bankruptcy. Skeleton crew is finishing off The Walking Dead, and then the whole thing will shut.

Everything else is cancelled. Only The Walking Dead is going ahead now.

According to the same source, Telltale almost didn't get through Spring 2018. The Netflix deal fell apart, which was supposed to save it.

The source also says they believe the publishing arm of Telltale is also done for, too. So the Stranded Deep announcement earlier today won't go ahead now. Not sure about 7 Days to Die yet.

(Which doesn't mean either of those games are cancelled, just no longer published by TT)

Apparently, only Minecraft: Story Mode and 7 Days to Die were making a profit. The rest was investor money and the netflix deal, which dried up.

According to the source, Batman t a n k e d and was one of the worst commercial failures for Telltale.

Basically, only the first season of The Walking Dead made money. Everything between that and Minecraft was a financial failure - Wolf, everything post-Season 1 of TWD, Borderlands, Game of Thrones. All failures.

Source says a big difference between the layoffs last year and these: nobody's getting severance pay this time. Makes sense because it's due to bankruptcy, but... god, I hope everyone there lands on their feet.

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If this turns out to be true, then it will just turn out to be another story of how little money most people make from working on games.
Just based on the people who I've heard talking about this rumor, the thought that Telltale was never making any money must have never crossed anyone's mind.
Chalk another one up to the sales culture of the video game industry right now.

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If this turns out to be true, then it will just turn out to be another story of how little money most people make from working on games.
Just based on the people who I've heard talking about this rumor, the thought that Telltale was never making any money must have never crossed anyone's mind.
Chalk another one up to the sales culture of the video game industry right now.

I mean, without any details we can't really know for sure. It could be a case of mishandled funds. It wouldn't be the first time some high up payed themselves too much or took to many lavish vacations and used what little else the studio had to fund whatever projects they were working on.

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Sad days. I knew this would happen sooner or later. I mean I never bought a TT game at full price, heck I never bought one at under 80% off from PSN sales. I've only ever paid 2$ an episode. No wonder they going bankrupt. Im glad there are others that pay full price for games, if more like me this world wont have games anymore!

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Talking to a couple friends and one brought up a good point. A main issue they may have had was how they delivered their games. Doing episodic was smart in the beginning to get an influx of cash, but they should have changed their style to releasing full games instead of episodes. People have an issue with Season Passes for much the same reason as their release style. Since they are waiting for the full game to come out, they would probably wait until it goes on sale. I know I would.